Monthly Market Summary August 2024
Headline inflation was at 2.12% year-on-year in August 2024, while core inflation rose from 1.95% in July 2024 to 2.02% year-on-year in August 2024. Indonesia's manufacturing PMI index declined again in August 2024 to 48.9 from 49.3 in July 2024.
From the global economy, continued decline in inflation increases the probability of the Fed cutting interest rates in September 2024. IndoGB index rose by 1.84% in August 2024. GIDU 10Yr index rose by 2.84% in August 2024. The JCI and MSCI Indonesia each strengthened by 5.7% and 4.4% month-on-month in August 2024, in line with the increasing probability of the Fed cutting interest rates.
Watch more in the Monthly Market Summary for August 2024.
